4-Risk Management-Snapshot Review

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STRATEGIES                  Two dimensions of risk: size, probability; risk management: a structured approach to uncertainty Avoidance                               Refrain from risky activity Reduction                          Reduce probability; share responsibility Transference                         Pass risk by contract; insurance Retention                               Accept risk; self-insurance RISK MANAGEMENT PROCEDURES Education                           Train in-laws, forms, and procedures, job performance Disclosure                              Provide information to reduce misunderstanding & lawsuits; agency, property […]

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